The IIA’s Practice Advisory (PA) 2320-4: Continuous Assurance provides internal audit practitioners with guidance on the implementation and use of continuous assurance. The advisory breaks down the activity by addressing the two key components: oversight of management’s continuous monitoring, and an internal auditor’s continuous auditing approach using computer-assisted audit techniques (CAATs). In addition to defining terms related to the process, some of the areas the PA addresses include:

Benefits of implementation.

Prioritization of areas to be included.

Considerations for developing the scope of continuous auditing tests.

Ownership of processes and follow-up.

Those practitioners who are considering implementing continuous assurance and those that are already involved in the process should review the PA thoroughly. Doing so helps to ensure that you have considered all the moving parts that need to be accounted for to make the implementation successful.